Space Tech Expo Bremen - 2021 Nov

Canadian government invests $1.44 billion in Telesat´s Lightspeed

Athens, 13 August 2021. – The Canadian government invests $1.44 billion in the country´s satellite operator Telesat to support its new LEO Lightspeed constellation.

The government provides a loan of $790 million and makes a $650 million preferred equity investment in Telesat Lightspeed, Telesat said. In return, Telesat commits to invest in Canada $1 billion of capital expenditures for its initial Lightspeed constellation and the lesser of $2.6 billion or 50% of certain capital expenditures for its subsequent constellation; it also commits to create hundreds of Canadian high-quality, full-time jobs and co-ops and provide academic scholarships”, the company said.

The Telesat Lightspeed network is initially comprised of 298 satellites with next-generation technologies to deliver multiple Gbps speeds and fibre-like connectivity.

With the new investment by the Canadian government of Quebec, Telesat now has arrangements for approximately $4 billion in funding for the program, the company says.

Telesat Lightspeed is “the largest space program ever conceived in Canada and will be the most innovative, cutting-edge broadband satellite network in the world”, Telesat says.

The European Thales Alenia Space is the prime contractor to build the Lightspeed satellites.

 

Check Also

Register Today For Our Space Café “33 minutes with Remco Timmermans” On 26 October 2021

This Space Café WebTalk will feature Remco Timmermans, Social Media Specialist for Space, in conversation with Torsten Kriening, publisher of SpaceWatch.Global. Live from the International Astronautical Congress 2021 in Dubai. Remco is an experienced space business professional, with 15+ years of experience in business analysis, process improvement, corporate